ACTS 


GENERAL  ASSEMBLY  OF  PENNSYLVANIA 

(SINCE  1879.) 


Provide  Revenue 


TAXATION 


APPROVED— JUNE  7,  1879,  P.  L,.  112;  JUNE  30,  1885,  P.  I^.  193;  JUNE  i,  1889.  P.  L.  420; 
JUNE  8,  1891,  P.  ly.  229,  AND  JUNE  8,  1893,  P.  Iv.  853- 


CLARENCE  M.  BUSCH, 

STATE  PRINTER  OF  PENNSYLVANIA. 
1896. 


•k 


Acts  of  the  General  Assembly  of  Pennsylvania  (since 
1879)  to  Provide  Revenue  by  Taxation. 


ACT  OF  1879. 

[June?,  1879,  P.  L.  112.] 

AN  ACT 
To  provide  reveuue  by  taxation. 

Section  1.  Be  it  enacted  by  the  Senate  and  House  of  Representa- 
tives of  the  Commonwealth  of  Pennsylvania  in  General  Assembly 
inet,  and  it  is  hereby  enacted  by  the  authority  of  the  same,    *    *  * 

**********      -x-      ******  **** 

NET  EARNINGS  OR  INCOME: 

Section  10.  That  every  private  banker  and  broker,  and  every  un- 
incorporated banking  and  saving  institution,  express  company,  palace 
car  company  and  sleeping  car  company,  and  all  corporations  incor- 
porated by  or  doing  business  in  this  Commonwealth,  except  those 
liable  to  a  tax  on  capital  stock  or  gross  receipts  under  the  provi- 
sions of  this  act,  and  banks,  trust  companies  and  savings  institu- 
tions having  capital  stock,  and  foreign  insurance  companies  licensed 
in  pursuance  of  the  several  acts  in  relation  thereto,  shall  annually, 
upon  the  first  Monday  of  November  of  each  year,  make  report  to  the 
Auditor  General,  under  oath  or  affirmation,  setting  forth  the  entire 
amount  of  net  earnings  or  income  received  by  said  individuals,  com- 
pany or  corporation,  from  all  sources  during  the  preceding  year;  and 
upon  such  net  earnings  or  income,  the  said  individual,  company  or 
corporations,  as  the  case  may  be,  shall  pay  into  the  State  treasury 
for  the  use  of  the  State,  within  sixty  days  thereafter,  three  per 
centum  upon  such  annual  net  earnings  or  income,  in  addition  to  the 
taxes  imposed  by  the  preceding  sections  of  this  act;  and  in  case  any 
corporation,  company  or  individual  shall  neglect  or  refuse  to  make 
the  report  required  by  this  section  to  the  Auditor  General,  on  or 
before  the  thirty-first  day  of  December,  such  corporation,  company 
or  individual,  shall  be  liable  to  a  penalty  of  ten  per  centum  for  such 
neglect,  which  shall  be  added  to  the  amount  of  tax  found  due  in  the 
settlement  of  their  account. 


z 


[Note. — Sec.  10  is  supplied  as  regards  bankers  and  brokers  by 
the  act  of  June  27,  1895,  and  as  to  corporations  by  section  27  of  the 
act  of  June.  1,  18S9.] 

*******    *********  ***** 

REPEALING  SECTION: 

Section  18.  That  this  shall  go  into  effect  immediately,  and  that  all 
laws  or  parts  of  laws  inconsistent  herewith,  or  which  are  hereby 
substantially  re-enacted,  be  and  the  same  are  hereby  repealed,  sav- 
ing, reserving,  and  excepting  unto  the  Commonwealth  the  right  to 
collect  any  taxes  accrued  or  accruing  under  the  said  laws  or  parts 
of  laws  and  sections,  or  any  of  them,  prior  to  the  date  of  the  ap- 
proval of  this  act:  Provided  however.  That  taxes  shall  not  be  col- 
lected for  the  same  period  of  time  under  any  such  repealed  law,  and 
under  any  substantial  re-enactment  of  the  same  herein  contained. 

Approved — June  7,  1879. 


ACT  OF  1885. 

[June  ao,  ]885,  P.  U  193.] 

A  FURTHER  SUPPLEMENT 

To  an  act  entitled  "  An  act  to  provide  revenue  by  taxation,"  approved  the  seventh 

of  June,  one  thousand  eight  hundred  and  seventy-nine. 
PERSONAL  PROPERTY: 

Section  1.  Be  it  enacted  by  the  Senate  and  House  of  Representa- 
tives of  the  Commonwealth  of  Pennsylvania  in  General  Assembly 
met,  and  it  is  hereby  enacted  by  the  authority  of  the  same,  That  all 
mortgages,  money  owing  by  solvent  debtors,  whether  by  promissory 
note,  or  penal  or  single  bill,  bond,  or  judgment,  also,  all  articles  of 
agreement  and  accounts  bearing  interest,  owned  or  possessed  by  any 
person  or  persons  whatsoever,  except  notes  or  bills  for  work  or  labor 
done,  and  all  obligations  given  to  banks  for  money  loaned,  and  bank 
notes,  and  all  public  loan  or  stocks  whatsoever  (except  those  issued 
by  this  Commonwealth  or  the  United  States)  and  all  money  loaned  or 
invested  in  any  other  State,  and  all  other  money  capital  in  the  hands 
of  individual  citizens  of  the  State,  shall  be  and  are  hereby  taxable  for 
State  purposes  at  the  rate  of  three  mills  on  the  dollar  of  the  value 
thereof  annually:  Provided,  That  the  same  shall  after  the  passage 
of  this  act  be  exempt  from  all  taxation  except  for  State  purposes. 

[Note. — The  i)roviso  to  the  above  section  is  the  only  portion  of 
present  importance,  that  portion  of  the  section  which  enumerates 
the  classes  of  property  subject  to  the  tax  on  personal  property  hav- 
ing been  superseded  by  sec.  1  of  the  acts  of  June  1,  1889  and  June 
1,  1891.] 

*        *        *        *        -X-        *        *        *        *        -K-        *****        *  ***** 


3 

CORPORATE  LOANS: 

Section  4.  That  hereafter  it  shall  be  the  duty  of  the  treasurer  of 
each  private  corporation  incorporated  by  or  under  the  laws  of  this 
Commonwealth,  or  the  laws  of  any  other  State  or  of  the  United 
States  and  doing  business  in  this  Commonwealth,  upon  the  payment 
of  any  interest  on  any  scrip,  bond,  or  certificate  of  indebtedness,  is- 
sued by  said  corporation  to  residents  of  this  Commonwealth,  and 
held  by  them,  to  assess  the  tax  imposed  and  provided  for  State  pur- 
poses upon  the  nominal  value  of  each  and  every  said  evidence  of 
debt,  and  to  report  on  oath  annually  on  the  first  Monday  of  Novem- 
ber to  the  Auditor  General  the  amount  of  indebtedness  of  the  cor- 
poration owned  by  residents  of  this  Commonwealth,  as  nearly  as  the 
same  can  be  ascertained,  and  it  shall  be  his  further  duty  to  deduct 
three  mills  on  every  dollar  of  the  interest  paid  as  aforesaid  and  re- 
turn the  same  into  the  State  treasury  within  fifteen  days  after  the 
thirty-first  day  of  December  in  each  year;  and  his  compensation  for 
his  service  shall  be  the  same  that  city  and  borough  treasurers  re- 
ceive for  similar  services;  and  for  every  failure  to  assess  and  pay 
said  tax  and  make  report  as  aforesaid,  the  Auditor  General  shall  add 
ten  per  centum  as  a  penalty  to  the  amount  of  the  tax  in  payment  of 
said  tax  by  a  corporation ;  the  bonds,  certificates,  or  other  evidences 
of  indebtednecs  issued  by  it  shall  be  exempt  from  all  other  taxation 
in  the  hands  of  the  holders  of  the  same. 

*******    *«•*****»    *  ***** 

REPEALING  SECTION: 

Section  21.  All  acts  or  parts  of  acts  inconsistent  herewith,  be  and 
the  same  are  hereby  repealed. 

Approved— The  30th  day  erf  June,  A.  D.  1885. 


ACT  1889. 

[June  1,  1889,  P.  L.  42  \] 


A  FURTHER  SUPPLEMENT 

To  an  act  entitled  "An  act  to  provide  revenue  by  taxation,"  approved  the  seventh 
day  of  June,  Anno  Domini  one  thousand  eight  hundred  and  seventy-nine. 

Section  1.  Be  it  enacted,  &c.,  ****** 

[Note. — Sec.  1  supplied  by  sec.  1  of  the  act  of  June  8,  1891.] 
****************  ***** 

PERSONAL  PROPERTY  TAX— RETURNS: 

Section  2.  That  the  board  of  revision  of  taxes  in  cities  co-extensive 
with  counties,  shall  furnish  the  assessors  of  said  city  annually,  and 


4 


the  comraissioners  of  the  other  counties  shall  aDnually  furnish  the 
xissessors  of  the  several  townships,  boroughs  and  cities  of  the  re- 
»pective  counties  with  blanks  in  the  form  prepared  and  supplied  by 
the  Auditor  General,  and  it  shall  be  the  duty  of  each  of  said  asses- 
sors to  furnish  a  copy  of  the  same  to  eA^ery  taxable  person,  co-part- 
nership, unincorporated  association,  joint-stock  association  and  com- 
pany, limited  partnership  and  corporation  in  his  respective  ward,  dis- 
trict, borough  or  township,  or  to  any  officer,  agent  or  employe  found 
at  the  place  of  business  of  any  such  limited  partnership  or  corpora- 
tion in  his  ward,  district,  borough  or  township,  upon  which  blank 
each  taxable  person,  co-^partnership,,  unincor-^orated  iassociation, 
company,  limited  partnership,  joint-stock  association  and  corpora- 
tion, shall  respectively  make  return  annually  of  the  aggregate 
amount  of  all  the  different  classes  of  personal  property  made  taxable 
by  the  first  section  of  this  act,  held,  owned  or  possessed  by  said 
person,  co-partnership,  unincorporated  association,  company,  lim- 
ited partnership,  joint  stock  association  or  corporation,  either  in  his, 
her  or  its  own  right,  or  as  trustee,  agent,  attorney-in-fact  or  in  any 
other  capacity,  for  the  use,  benefit  or  advantage  of  any  other  person, 
persons,  co-partnerships,  -unincorporated  association,  company,  lim- 
ited partnership,  joint-stock  association  or  corporation;  which  re- 
turn shall  be  made  and  sworn  or  affirmed  to  by  such  taxable  person, 
and  in  the  case  of  co-partnerships,  unincorporated  associations,  and 
joint-stock  associations  and  companies  by  some  member  thereof,  and 
in  the  case  of  limited  partnerships  and  corporations  by  the  president, 
chairman  or  treasurer  thereof:  Provided,  That  any  corporation, 
joint-stock  association  or  limited  partnership  doing  business  in  more 
than  one  county  shall  be  liable  to  make  such  return  only  in  the  county 
in  which  Its  principal  office  within  this  Commonwealth  is  situated :  Pro- 
vided, That  the  taxable  person,  co-partnership,  unincorporated  asso- 
ciation, joint-stock  association,  limited  partnership,  corporation  or 
other  person  making  the  return  aforesaid,  shall  not  include  in  said 
return  the  obligations  of  public  or  private  corporations,  the  tax  upon 
which  is  required  by  law  to  be  collected  from  the  holder  of  such  obli- 
gations and  paid  into  the  State  treasury  by  the  corporation,  it  be- 
ing the  true  intent  and  meaning  of  this  act  that  the  provisions  of  the 
law  in  force  at  the  time  of  the  passage  of  this  act  relating  to  the  col- 
lection of  the  tax  upon  such  obligations  shall  remain  unaffected  by 
the  present  act. 

Section  3.  The  affidavit  required  to  be  made  by  the  last  preceding 
section  shall  be  made  before  the  proper  assessor  or  other  person  au- 
thorized to  administer  oaths,  and  shall  set  forth  that  the  return  is 
full,  true  and  correct  to  the  best  of  his  or  her  knowledge  and  belief; 
and  any  person  or  officer  who  shall  wilfully  and  corruptly  make  a 
false  and  fraudulent  return  as  aforesaid  shall  be  guilty  of  wilful 


5 


and  corrupt  perjury,  and  upon  his  or  her  conviction  thereof  shall  be 
sentenced  to  pay  a  fine  not  exceeding  five  hundred  dollars,  and 
undergo  an  imprisonment  by  separate  and  solitary  confinement  at 
labor  not  exceeding  seven  years,  and  thereupon  be  forever  disquali- 
fied from  being  a  witness  in  any  matter  or  controversy. 

Section  4.  That  the  several  assessors  are  hereby  authorized  to 
administer  the  oath  or  affirmation  to  any  person  or  officer  making 
the  return  prescribed  by  the  preceding  sections,  for  the  taking  of 
which  oath  or  affirmation  no  charge  shall  be  made  by  the  assessor; 
any  assessor  w^ho  shall  accept  such  return  from  any  person  or  officer 
required  to  make  the  same  without  requiring  the  oath  or  affirmation 
of  such  person  or  officer  as  herein  provided,  or  who  shall  make  any 
charge  for  administering  such  oath  or  affirmation,  shall  be  deemed 
guilty  of  a  misdemeanor,  and  upon  conviction  thereof  shall  be  sen- 
tenced to  a  fine  not  exceeding  five  hundred  dollars. 

Section  5.  That  upon  the  refusal  or  failure  of  any  taxable  person, 
co-partnership,  unincorporaited  association,  limited  partnership, 
joint-stock  association  or  corporation,  to  make  a  return 
properly  verified  by  oath  or  affirmation,  as  required  by  this  act, 
within  ten  days  after  being  notified  so  to  do,  it  shall  be  the  duty  of 
the  assessor  to  make  a  return  for  such  taxable  person,  co-partner- 
ship, unincorporated  association,  joint-stock  association,  limited  part- 
nership or  corporation  from  the  best  information  he  can  obtain;  he 
shall  examine  the  records  and  lists  of  judgments  and  mortgages,  re- 
turned by  the  prothonotary  and  the  recorder  of  deeds  and  mort- 
gages, under  the  seventh  and  eighth  sections  of  this  act,  in  the  com- 
missioners' office  or  office  of  the  board  of  revision  of  taxes  or  remain- 
ing in  their  respective  offices,  and  assess  such  defaulting  person,  co- 
partnership, unincorporated  association,  joint-stock  association,  lim- 
ited partnership  or  corporation  with  the  amounts  of  all  such  liens 
with  interest  thereon,  and  add  thereto  the  amount  of  all  taxable 
property  obtained  from  all  other  sources  of  information;  which  re- 
turn the  proper  county  commissioners  or  board  of  revision  shall 
have  power  and  it  shall  be  their  duty  to  revise  and  correct  accord- 
ing to  the  best  information  they  can  command  from  the  records  in 
their  office  or  other  sources,  and  it  shall  be  their  duty  to  send  for  a 
person,  persons  and  papers,  and  to  administer  an  oath  or  affirma- 
tion to  him  or  them  in  such  form  as  shall  be  perscribed  and  supplied 
by  the  Auditor  General,  to  which  revised  and  corrected  estimated  re- 
turn the  proper  county  commissioners  or  board  of  revision  of  taxes 
shall  add  fifty  per  centum,  and  the  aggregate  amount  so  obtained 
shall  be  the  basis  for  taxation:  Provided,  That  if  such  taxable  person 
or  co-partnership,  or  unincorporated  association  or  company,  lim- 
ited partnership,  joint-stock  association  or  corporation,  on  or  be- 


fore  the  day  fixed  for  appeals  from  assessments,  shall  present 
reasons  supported  by  oath  or  affirmation,  satisfactory  to  the  proper 
county  commissioners  or  board  of  revision,  excusing  a  failure  to 
make  a  return  such  as  should  be  made  to  the  assessors,  and  shall 
then  make  such  return,  the  proper  county  commissioners  or  board  of 
revision  may  substitute  such  return  for  that  returned  by  the  assessor 
and  corrected  as  aforesaid,  to  have  like  effect  as  if  no  failure  to  re- 
turn had  occurred. 

Section  6.  That  if  any  assessor  and  any  taxable  person  or  mem- 
bers of  any  co-partnership,  unincorporated  association  or  com- 
pany, officer  or  stockholder  or  member  of  any  limited  partnership, 
joint-stock  association  or  corporation,  shall  agree  or  enter  into  any 
arrangement  or  understanding  that  upon  the  failure  of  such  taxable 
person,  co-partnership,  unincorporated  association,  company,  limited 
partnership,  joint-stock  association  or  corporation,  to  make  the  re- 
turn required  by  the  third  section  of  this  act  to  be  made,  such  as- 
sessor shall  return  a  less  amount  of  property  made  taxable  by  the 
first  section  of  this  act  than  should  have  been  returned  by  such  tax- 
able person,  co-partnership,  unincorporated  association,  company, 
limited  partnership,  joint-stock  association  or  corporation,  the  per- 
sons entering  into  such  agreement,  arrangement  or  understanding, 
shall  be  guilty  of  conspiracy,  and  upon  conviction  thereof  shall  be 
sentenced  to  pay  a  fine  not  exceeding  one  thousand  dollars,  and 
undergo  an  imprisonment  either  at  labor  by  separate  or  solitary  con- 
finement or  to  simple  imprisonment,  not  exceeding  three  years,  at 
the  discretion  of  the  court. 

Section  7.  That  from  and  after  the  passage  of  this  act,  it  shall  be 
the  duty  of  the  recorder  of  deeds,  mortgages  and  other  instruments 
of  writing,  in  each  and  every  county  and  city  co-extensive  with  a 
county  in  this  Commonwealth,  to  keep  a  daily  record,  separate  and 
apart  from  all  other  records,  of  every  mortgage  or  article  of  agree- 
ment given  to  secure  the  payment  of  money  entered  in  his  office  for 
recording,  which  said  record  shall  set  forth  the  following  informa- 
tion to  wit:  Tlie  date  of  the  mortgage  or  agreement,  the  names  of 
the  parties  thereto,  the  just  sum  of  money  secured,  the  precise  resi- 
dence of  the  mortgagee  or  person  to  whom  interest  is  payable  when- 
ever such  residence  can  be  ascertained,  a  brief  description  of  the  real 
estate  upon  which  such  mortgage  is  secured,  and  the  date  or  several 
dates  when  the  said  sum  or  portion  of  the  said  sum  shall  become  due 
and  payable,  and  a  like  daily  record  of  every  assignment  of  a  mort- 
gage or  an  article  of  agreement  given  to  secure  the  payment  of 
money,  and  also  the  number  of  mortgages  and  agreements,  to- 
gether with  the  amount  of  same,  and  the  names  of  the  parties 
thereto,  which  shall  have  been  that  day  satisfied  of  record;  and  it 


7 


shall  h  i  the  I'urther  duty  of  the  recorder,  on  the  first  Monday  of  each 
month,  to  tile  the  aforesaid  daily  record  in  the  commissioners'  office 
or  with  the  board  of  revision  of  taxes  of  the  proper  county  or  city, 
and  one  certificate  appended  thereto  shall  be  all  that  shall  be  re- 
quired. 

Section  8.  That  it  shall  be  the  duty  of  the  prothonotary  or  clerk 
of  the  court  of  common  pleas  in  each  and  every  county  or  city  co-ex- 
tensive with  a  county  in  this  Commonwealth,  forthwith  upon  the 
passage  of  this  act,  to  keep  a  daily  record,  separate  and  apart  from 
all  other  records,  of  every  single  bill,  bond,  judgment  or  other  instru- 
ment securing  a  debt,  entered  of  record  in  his  office,  which  daily 
record  shall  set  forth  the  following  information,  to  wit:  The  date  of 
the  instrument,  the  names  of  the  plaintiff  and  defendant,  together 
with  the  precise  residence  of  the  plaintiff  or  person  to  whose  use 
such  bill,  bond,  judgment  or  other  obligation  to  pay  money  is 
marked,  whenever  such  residence  can  be  ascertained,  the  just  sum 
secured,  and  the  date  or  several  dates  when  the  said  sum  or  portion 
of  the  same  shall  become  due  and  payable,  with  the  further  informa- 
tion whether  any  of  said  bonds  or  judgments  are  accompanied  with 
mortgages,  and  also  the  number  of  every  single  bill,  bond,  judgment 
or  other  instrument  securing  a  debt,  together  with  the  amount  of 
same  and  the  names  of  the  plaintiff  and  defendant  thereto,  which 
shall  have  been  that  day  satisfied;  and  it  shall  be  the  further  duty 
of  prothonotary  or  clerk  of  the  court  of  common  pleas  to  file  the 
aforesaid  daily  record  of  bills  and  so  forth  in  the  commissioners' 
office  or  with  the  board  of  revision  of  taxes  of  the  proper  county  or 
city,  on  the  first  Monday  of  each  month,  and  one  certificate  appended 
thereto  shall  be  all  that  shall  be  required. 

Section  9.  That  it  shall  be  the  further  duty  of  the  county  commis- 
sioners or  board  of  revision  of  taxes,  upon  obtaining  record  of  the 
existence  within  any  county  or  city  co-extensive  with  a  county  or 
said  mortgages  and  other  obligations,  that  shall  be  owned 
by  a  person,  co-partnership,  association,  limited  partnership,  joint- 
stock  association  or  corporation,  resident  or  doing  business  within 
this  Commonwealth,  and  not  a  resident  of  said  county,  or  in  the 
case  of  a  corporation,  limited  partnership  or  company  not  having  its 
principal  office  within  said  county,  to  transmit  a  certified  statement 
of  said  record  to  the  county  commissioners  or  board  of  revision _of 
taxes  of  the  proper  city  or  county  wherein  said  person  is  domiciled 
or  wherein  said  co-partnership,  association,  limited  partnership, 
joint-stock  association  or  corporation  does  business  or  maintains  its 
principal  office,  and  also  to  further  transmit  to  said  commissioners 
or  board  of  revision  of  taxes  a  certified  statement,  whenever  it  shall 
appear  from  the  lecord  that  said  mortgages  and  other  obligations 
1* 


8 


are  satisfied,  wliicli  upon  its  receipt  sliall  be  filed  of  record  b}^  the 
county  commissioners  or  board  of  revision  of  taxes. 

Section  10.  That  it  shall  be  the  further  duty  of  the  county  com- 
missioners or  the  board  of  revision  of  taxes  of  the  proper  city  or 
county,  upon  the  receipt  of  the  daily  records  from  the  offices  of  the 
recorder  or  prothonotary  or  clerk,  to  file  the  same  in  their  office, 
and  on  or  before  the  time  of  making  the  annual  or  triennial  as- 
sessment in  any  year,  to  prepare  from  the  said  records  a  statement 
or  statements,  showing  as  far  as  practicable  the  number  and  amount 
of  said  mortgages  and  all  other  obligations  and  names  of  the  parties 
thereto,  in  each  township  or  ward  in  the  county,  which  said  state- 
ment shall  be  delivered  to  the  assessor  or  assessors  of  each  town- 
ship or  ward  respectively  before  said  officers  shall  enter  upon  the 
discharge  of  their  proper  duties. 

Section  11.  That  it  shall  be  the  duty  of  the  assessor  or  assessors, 
in  making  up  their  valuations  of  money  at  interest  in  their  respec- 
tive districts,  to  compare  the  return  made  by  each  person,  co-part- 
nership, association,  limited  partnership,  joint-stock  association  or 
corporation  with  the  statement  furnished  them  by  the  county  com- 
missioners or  board  of.  revision  of  taxes,  and  if  the  amount  of  said 
mortgages  or  other  obligations  as  contained  in  said  statement  shall 
exceed  the  amount  set  forth  in  the  return  of  any  person,  co-partner- 
ship, association,  limited  partnership,  joint-stock  association  or  cor- 
poration, to  note  the  fact  and  make  return  of  the  same  to  the  com- 
missioners or  board  of  revision  of  taxes  of  the  proper  city  or  county. 

Section  12.  That  it  shall  be  the  further  duty  of  the  county  commis- 
sioners or  board  of  revision  of  taxes,  upon  the  returns  made  to  them 
by  the  assessors  of  the  several  townships,  wards  and  boroughs,  in  all 
cases  where  it  shall  appear  on  proving  the  record,  that  any  person, 
co-partnership,  association,  limited  partnership,  joint-stock  associa- 
tion or  corporation,  has  returned  a  less  amount  of  money  at  interest 
than  appears  from  the  records  in  possession  of  the  commissioners  or 
board  of  revision  of  taxes,  thereupon  to  raise  the  valuation  of  the 
property  of  said  person,  co-partnership,  association  or  limited  part- 
nership, joint-stock  association  or  corporation  to  the  amount  set 
forth  in  said  records,  and  forthwith  to  notify  the  persons,  co-part- 
nerships, associations,  limited  partnerships,  joint-stock  associations 
or  corporations  interested  of  the  said  increase  of  valuation,  and 
that  the  same  is  subject  to  be  appealed  from  at  the  same  time  and 
in  the  same  manner  as  the  original  assessment. 

Section  13.  That  any  willful  failure  on  the  part  of  the  county  com- 
missioners, board  of  revision  of  taxes,  ward,  borough  and  township 
assessors,  recorders  of  deeds,  prothonotaries  and  clerks  of  courts,  to 
carry  out  the  duties  imposed  upon  them  by  the  several  sections  of 


9 


this  act,  shall  be  deemed  a  misdemeanor,  and  upon  conviction 
thereof  the  person  or  persons  so  failing  to  comply  shall  be  sentenced 
to  a  tine  not  exceeding  five  hundred  dollars  and  imprisonment  not 
exceeding  one  year. 
TAX  ON  STAGES,  OMNIBUSES,  ETC.  : 

Section  14.  That  the  county  commissioners  or  board  of  revision  of 
taxes  of  each  and  every  county  in  this  Commonwealth,  are  hereby  au- 
thorized and  required,  annually  hereafter,  at  the  usual  period  of 
making  county  rates  and  levies,  to  assess  or  cause  to  be  assessed,  for 
the  use  of  the  Commonwealth,  upon  all  stages,  omnibuses,  hacks, 
cabs  and  other  vehicles  used  for  transporting  passengers  for  hire, 
except  steam  and  street  passenger  railway  cars,  owned,  used  or 
possessed  within  this  Commonwealth,  by  any  person  or  persons,  or 
by  any  corporate  body  or  bodies,  and  upon  all  annuities  yielding  an- 
nually over  two  hundred  dollars,  a  tax  of  three  mills  upon  each  and 
every  dollar  of  the  value  thereof. 

[Superseded  by  section  2,  act  of  June  8,  1891.] 

Section  15.  That  the  Auditor  General  shall  furnish  to  the  county 
commissioners  or  boards  of  revision  in  counties  or  cities  co-exten- 
sive with  counties,  all  necessary  books,  blanks,  notices  and  papers  to 
carry  this  act  into  effect. 

[Note. — Sec.  10  is  sup]^lied  by  sec.  3  of  act  of  June  8.  1891.] 
***^**    **********  ***** 

Section  17.  That  the  taxes  imposed  upon  personal  property  by  the 
first  section  of  this  act,  shall  be  collected  by  the  several  counties  and 
cities,  and  on  the  first  Monday  of  September  shall  pay  unto  the  State 
Treasurer  all  such  sum  or  sums  of  money  as  may  then  have  been  col- 
lected, and  shall  on  the  second  Monday  of  November  immediately 
following  in  each  year  complete  and  pay  unto  the  said  State  Treas- 
urer the  whole  amount  remaining  unpaid;  and  in  default  thereof,  it 
shall  be  the  duty  of  the  Auditor  General  to  add  ten  per  centum 
penalty  to  each  county  or  city  on  all  taxes  remaining  unpaid  on  the 
second  Monday  of  November  of  each  year,  which  shall  be  charged  in 
the  duplicate  against  each  delinquent  taxpayer  in  arrears  on  and 
after  said  day:  Provided,  That  city  or  county  treasurers  shall  be  per- 
mitted to  retain  for  their  own  use  from  the  gross  sum  of  money  paid 
by  them  into  the  State  treasury  the  commissions  named  and  pre- 
scribed by  existing  laws. 

Section  18.  That  from  and  after  the  passage  of  this  act,  it  shall 
be  unlawful  for  any  person  or  persons,  co-partnership,  unincorpo- 
rated association,  limited  partnership,  joint-stock  association  or  cor- 
poration whatsoever,  in  loaning  money  at  interest  to  any  person  or 
jjersons,  whether  such  loans  be  secured  by  bond  and  mortgage,  or 
otherwise,  to  require  the  person  or  persons  borrowing  the  same  to 
pay  the  tax  imposed  thereon  by  the  first  section  of  this  act;  and  in 


lU 


all  cases  where  such  tax  shall  have  been  paid  by  the  borrower  or  bor- 
rowers, the  same  shall  be  deemed  and  considered  usury,  and  be  sub- 
ject to  the  laws  governing  the  same. 
REGISTRATION  OF  CORPORATIONS: 

Section  19.  That  hereafter  no  limited  partnership,  bank,  joint- 
stock  associations,  corporations  or  company  whatsoever,  formed, 
erected,  incorporated  or  organized,  by  or  under  any  law  of  this  Com- 
monwealth, general  or  special,  or  formed,  erected,  incorporated  or 
organized  under  the  laws  of  any  other  state,  and  doing  business  iu 
this  Commonwealth,  shall  go  into  operation,  without  first  having  the 
name  of  the  institution  or  company,  the  date  of  incorporation  or  or- 
ganization, the  act  of  Assembly  or  authority  under  which  formed, 
incorporated  or  organized,  the  place  of  business,  the  postofiice  ad- 
dress, the  names  of  the  president,  chairman,  secretary  and  treasurer 
or  cashier,  and  tlie  amount  of  capital  authorized  by  its  charter,  and 
the  amount  of  capital  paid  into  the  treasury,  registered  in  the  office 
of  the  Auditor  General;  and  every  limited  partneishi]),  bank,  asso- 
ciation, joint-stock  association,  company  or  corporation  whatsoever, 
now  engaged  in  business, in  this  Commonwealth,  shall  within  ninety 
days  after  the  passage  of  this  act,  register  as  herein  required  in  the 
office  of  the  Auditor  General;  all  the  corporations,  companies,  asso- 
"Ciations  and  limited  partnerships  aforesaid,  shall  annually  hereafter 
notify  the  Auditor  General  of  any  change  in  their  officers;  and  any 
such  institution  or  company  which  shall  neglect  or  refuse  to  comply 
with  the  provisions  of  this  section,  shall  be  subject  to  a  i)enalty  of 
five  hundred  dollars,  which  penalty  shall  be  collected  on  an  account 
settled  by  the  Auditor  General  and  State  Treasurer  in  the  same  man- 
ner as  taxes  on  capital  stock  are  settled  and  collected. 

[Note. — Sec.  20  is  supplied  by  section  4  of  the  act  of  June  8.  1891; 
sec.  21  is  supplied  by  sec.  1  of  the  act  of  June  8,  1898.] 

CAPITAL  STOCK  REPORT-^PENALTY : 

Section  22.  That  if  the  said  officers  of  any  such  limited  partner- 
ship, joint-stock  association  or  corporation,  shall  neglect  or  refuse  to 
furnish  the  Auditor  General,  on  or  before  the  thirty-first  day  of  De- 
cember in  each  and  every  year,  with  the  report  and  appraisement  as 
aforesaid,  as  required  by  the  twentieth  section  of  this  act,  it  sliall 
be  the  duty  of  the  accounting  officers  of  the  Commonwealth  to  add 
ten  per  centum  to  the  tax  of  said  limited,  partnership,  joint-stock  as- 
sociation or  corporation,  for  each  and  every  year  for  which  such  re- 
port and  appraisement  were  not  so  furnished,  which  percentage  shall 
be  settled  and  collected  with  the  said  tax  in  the  usual  manner  of 
settling  accounts  and  collecting  such  taxes;  if  the  officers  of  any 
such  limited  partnerships,  association,  joint-stock  association  or  cor- 


11 


poration,  or  any  of  them,  shall  iutentionally  fail  to  comply  with  the 
requirements  of  the  twentieth  section  of  this  act  for  three  succes- 
sive years,  he  or  they  shall  be  deemed  j^uilty  of  a  misdmeanor,  and 
on  conviction  thereof  shall  be  sentenced  to  pay  a  tine  of  five  hundred 
dollars  and  undergo  an  imprisonment  not  exceeding  one  year,  or  both 
or  either,  at  the  discretion  of  the  court. 
GROSS  RECEIPTS  TAX   CORPORATIONS : 

Section  23.  That  every  railroad  company,  pipe  line  company,  con- 
duit company,  steamboat  company,  canal  company,  slack  water 
navigation  company,  transportation  company,  street  passenger  rail- 
way company,  and  every  other  company,  joint-stock  association  or 
limited  partnership,  now  or  hereafter  incorporated  or  organized  by 
or  under  any  law  of  this  Commonw^ealth,  or  now  or  hereafter  or- 
ganized or  incorporated  by  any  other  Btate  or  by  the  United  States 
or  any  foreign  government,  and  doing  business  in  this  Common- 
wealth, and  owning,  operating  or  leasing  to  or  from  another  cor- 
poration, company,  association,  joint-stock  association  or  limited 
partnership,  any  railroad,  pipe  line,  slack  water  navigation,  street 
passenger  railway,  canal  or  other  device  for  the  transportation  of 
freight  or  passengers  or  oil,  and  every  telephone  or  telegraph  com- 
pany incorporated  under  the  laws  of  this  or  any  other  State  of 'the 
United  States  and  doing  business  in  this  Commonwealth,  and  every 
express  company,  incorporated  or  unincorporated,  doing  business 
in  this  Commonwealth,  and  every  firm,  co-partnership  or  joint-stock 
company  or  association  doing  express  business  in  this  Common- 
wealth, and  every  electric  light  company,  and  every  palace  car  and 
sleeping  car  company,  incorporated  or  unincorporated,  doing  busi- 
ness in  this  Commonw^ealth,  shall  pay  to  the  State  Treasurer  a  tax 
of  eight  mills  upon  the  dollar  upon  the  gross  receipts  of  said  corpora- 
tion, company  or  association,  limited  partnership,  firm  or  co-partner- 
ship, received  from  passengers  and  freight  traffic  transported  wholly 
within  this  State,  and  from  telegraph,  telephone  or  express  business 
done  wholly  within  this  State,  or  from  business  of  electric  light  com- 
panies, and  from  the  transportation  of  oil  done  wholly  within  the 
State;  the  said  tax  shall  be  paid  semi-annually  upon  the  last  days  of 
January  and  July  in  each  year;  and  for  the  purpose  of  ascertaining 
the  amount  of  the  same,  it  shall  be  the  duty  of  the  treasurer  or  other 
proper  officer  of  the  said  company,  firm,  co-partnership,  limited  part- 
nership, joint-stock  association  or  corporation,  to  transmit  to  the 
Auditor    General    a    statement,    under    oath    or    affirmation  of 
the  amount   of   gross  receipts   of   the   said   companies,  co-part- 
nerships, corporations,    joint-stock    associations  or  limited  part- 
nerships derived  from  all  sources  and  of  gross  receipts  from  business 
done  wholly  within  the  State,  during  the  preceding  six  months  end- 
ing on  the  first  days  of  January  and  July  in  each  year;  and  if  any 


12 


such  company,  firm,  co-pai'tuership,  joint-stock  association,  associa- 
tion or  limited  partnership  or  corporation,  shall  neglect  or  refuse  for 
a  period  of  thirty  days  after  such  tax  becomes  due,  to  make  said  re- 
turns or  to  pay  the  same,  the  amount  thereof  with  an  addition  of  ten 
per  centum  thereto,  shall  be  collected  for  the  use  of  the  Common- 
wealth as  other  taxes  are  recoverable  by  law :  Provided,  That  in  any 
case  where  the  works  of  one  corporation,  company,  joint-stock  asso- 
ciation or  limited  partnership  are  leased  to  and  operated  by  another 
corporation,  company,  association  or  limited  partnership,  the 
taxes  imposed  by  this  section  shall  be  apportioned  between  the 
said  corporations,  companies,  associations  or  limited  partnerships  in 
accordance  with  the  terms  of  their  respective  leases  or  agreements, 
but  for  the  payment  of  the  said  taxes  the  Commonwealth  sliall  first 
look  to  the  corporation,  company,  association  or  limited  partner- 
ship operating  the  works,  and  upon  payment  by  the  said  company, 
corporation,  association  or  limited  partnership  of  a  tax  upon  the  re- 
ceipts as  herein  provided  derived  from  the  operation  thereof,  the 
corporation,  company,  joint-stock  association  or  limited  partner- 
ship from  which  the  said  works  are  leased,  shall  not  be  held  liable 
under  this  section  for  any  -tax  upon  the  proportion  of  said  receipts 
by  it  as  rental  for  the  use  of  said  w^orks. 
GROSS  PREMIUMS— INSURANCE: 

Section  24.  That  hereafter  it  shall  be  the  duty  of  the  president, 
secretary  or  other  proper  ofiicer  of  each  and  every  insurance  com- 
pany o:  asRC elation,  incorporated  by  or  under  any  law  of  this  Com- 
monwealth, except  companies  doing  business  upon  the  purely  mutual 
plan  without  any  capital  stock  or  accumulated  reserve,  and  purely 
mutual  beneficial  associations  whose  funds  for  the  benefit  of  mem- 
bers, their  families  or  heirs  are  made  up  entirely  of  the  weekly  or 
monthly  contributions  of  their  members  and  the  accumulated  in- 
terest thereon,  to  make  report  in  writing  to  the  Auditor  General 
semi-annually  upon  the  first  days  of  July  and  January  in  each  year, 
setting  forth  the  entire  amount  of  premiums  and  assessments  re- 
ceived by  such  company  or  association  during  the  preceding  six 
months,  whether  the  said  premiums  and  assessments  were  received 
in  money  or  in  the  form  of  notes,  credits  or  any  other  substitutes  for 
money;  and  every  such  company  or  association  shall  pay  into  the  State 
treasury  semi-annually  on  the  last  days  of  January  and  July,  in  ad- 
dition to  any  other  taxes  to  which  .it  may  be  liable  under  the  first 
and  under  the  twenty-first  sections  of  this  act,  a  tax  of  eight  mills 
upon  the  dollar  upon  the  gross  amount  of  said  premiums  and  assess- 
ments received  from  business  transacted  within  this  Commonwealth  : 
Provided,  That  said  report  shall  be  made  under  oath  or  affirmation, 
and  that  it  shall  be  the  duty  of  the  accounting  officers  of  the  Com- 
kuonwealth  to  add  ten  per  centum  to  the  account  of  any  company  or 


13 


association  whose  officers  shall  neglect  or  refuse  for  a  period  of  thirty 
days  to  make  the  said  report  or  to  pay  into  the  State  treasury  the 
tax  imposed  by  this  section:  And  provided  further,  That  hereafter 
the  annual  tax  upon  the  premiums  of  insurance  companies  of  other 
States  or  foreign  governments,  shall  be  at  the  rate  of  two  per 
centum  upon  the  gross  premiums  of  every  character  and  descrip- 
tion received  from  business  done  within  this  Commonwealth  within 
the  entire  calendar  year  preceding. 

[Not^ — Sees.  25  and  20  are  supplied  by  sees.  G  and  7  of  the  act  of 
June  8,  1891.] 

************    *    *    *    *    *       *    *    *  * 

TAX  ON  NET  EARNINGS  OR  INCOME-CORPORATIONS: 

Section  27.  That  from  and  after  the  passage  of  this  act  every 
incorporated  company  or  limited  partnership  whatever,  whether  the 
same  be  incorporated,  formed  or  organized  under  the  laws  of  this 
or  any  other  state  or  territory,  and  doing  business  within  this  Com- 
monwealth, and  liable  to  taxation  therein,  which  is  not  subject  to  the 
taxes  imposed  by  the  twenty-first  or  twenty-fourth  sections  of  this 
act,  except  incorporated  banks  and  savings  institutions  having  capi- 
tal stock,  and  foreign  insurance  companies,  shall  annually,  upon  the 
first  Monday  of  November  of  each  year,  make  report  to  the  Auditor 
Greneral  under  oath  of  some  officer  of  such  company,  association  or 
limited  partnership,  setting  forth  the  entire  amount  of  net  earnings 
or  income  received  by  said  company  or  limited  partnerships  from  all 
sources  during  the  preceding  year;  and  upon  such  net  earnings  or 
income,  the  said  company,  association  or  limited  partnership,  as  the 
case  may  be,  shall  pay  into  the  State  treasury  for  the  use  of  the 
Commonwealth,  within  sixty  days  thereafter,  three  per  centum  upon 
such  annual  net  earnings  or  income,  in  addition  to  any  taxes  on 
personal  property  to  which  it  may  be  subject  under  the  first  section 
•of  this  act;  and  in  case  any  company  or  limited  partnership  as  afore- 
said, shall  neglect  or  refuse  to  make  the  report  required  by  this  sec- 
tion to  the  Auditor  General,  on  or  before  the  thirty-first  day  of  De- 
cember following,  such  company,  association  or  limited  partnership 
shall  be  liable  to  a  penalty  of  ten  per  centum  for  such  neglect,  which 
shall  be  added  to  the  amount  of  tax  found  due  on  the  settlement  of 
their  account:  Provided,  That  this  section  shall  not  apply  to  cor- 
porations and  limited  partnerships  chartered  or  organized  for  manu- 
facturing puri)oses. 

EXAMINATION  OF  BOOKS  AND  PAPERS: 

Section  29.  That  the  Auditor  General  and  State  Treasurer,  or  any 
agent  appointed  by  them  or  either  of  them,  are  hereby  authorized 
to  examine  the  books  and  papers  of  any  corporation,  institution, 
company,  association  or  limited  partnership  made  taxable  by  this 


14 


act,  to  verify  the  accuracy  of  any  return  made  under  the  provisions 
of  this  or  any  other  act  of  Assembly. 

INTEREST  ON  ACCOUNTS: 

Section  30.  That  in  the  settlement  by  the  Auditor  General  and 
State  Treasurer  of  all  accounts  for  taxes  due  the  Commonwealth, 
they  shall  charge  interest  upon  the  amount  of  tax  or  balance  or  bal- 
ances found  due  the  Commonwealth,  at  the  rate  of  twelve  per 
centum  per  annum  from  thirty  days  after  the  time  said  taxes  or 
balances  become  due  and  payable  to  the  time  of  the  settlement  of 
the  same;  and  all  balances  due  the  Commonwealth  on  accounts 
settled  by  the  Auditor  General  and  State  Treasurer  shall  bear  in- 
terest from  sixty  days  after  date  of  settlement  at  the  rate  of  twelve 
per  centum  per  annum  until  the  same  are  paid;  and  any  judgment 
recovered  thereon  shall  bear  interest  at  the  rate  of  twelve  per 
centum  per  aniium  until  paid;  and  the  payment  of  interest  as  afore- 
said shall  not  relieve  any  corporation  from  any  of  the  penalties  or 
commissions  prescribed  by  law  for  neglect  or  refusal  to  furnish  re- 
ports to  the  Auditor  General  or  to  pay  any  claim  due  to  the  Common- 
wealth from  such  corporation:  Provided,  That  the  Auditor  General 
shall  first  have  sent  to  such  corporation  a  statement  of  the  amount 
due. 

LIENS  FOR  TAXES: 

Section  'U.  That  all  taxes  imposed  by  this  act  shall  be  a  lien  upon 
the  franchises  and  property,  both  real  and  personal,  of  corporations, 
companies,  associations,  joint-stock  associations  and  limited  partner- 
ships, from  the  time  the  said  taxes  are  due  and  payable;  and  when- 
ever the  franchises  or  property  of  a  corporation,  company,  associa- 
tion, joint-stock  association  or  limited  partnership  shall  be  sold  at  a 
judicial  sale,  all  taxes  due  the  Commonwealth  shall  first  be  allowed 
and  paid  out  of  the  proceeds  of  such  sale,  before  any  judgment, 
mortgage  or  other  claims  which  shall  be  entered  of  record  or  be- 
come a  lien  after  the  passage  of  this  act. 

DISSOLUTIONS: 

Section  32.  That  no  corporation,  company,  joint-stock  association, 
association  or  limited  partnership  made  taxable  hj  this  act,  shall 
hereafter  be  dissolved  by  the  decree  of  any  court  of  common  pleas, 
nor  shall  any  judicial  sale  be  valid  or  a  distribution  of  the  proceeds 
thereof  be  made,  until  all  taxes  due  the  Commonwealth  have  been 
fully  paid  into  the  State  treasury,  and  the  certificate  of  the  Auditor 
General,  State  Treasurer  and  Attorney  General  to  this  effect  filed  in 
the  proper  court,  with  the  proceedings  for  dissolution  or  sale. 
EXISTING  LAWS-CERTAIN  NOT  REPEALED: 

Section  33.  That  nothing  in  this  act  contained  shall  be  taken  or 
construed  to  alter  or  repeal  existing  laws  imposing  taxes  upon  col- 


15 


lateral  iuheritauces,  or  imposing  any  bonus  or  tax,  nor  with  the 
license  or  tax  on  net  earnings  to  be  paid  by  bankers,  brokers,  private 
banks,  unincorporated  banks  and  savings  institutions. 

BLANKS: 

{Section  34.  The  Auditor  General  is  hereby  authorized  to  prepare 
all  blanks,  in  such  forms  as  he  may  deem  best  calculated  to  insure 
true  returns  of  all  property  taxable  under  the  provisions  of  this  act, 
and  the  collection  of  the  taxes  therein,  and  to  take  all  necessary  ac- 
tion to  enforce  the  provisions  of  this  act. 

ACCRUED  TAXES-COLLECTION  OF. 

Section  35.  That  nothing  in  this  act  contained  shall  be  taken  or 
construed  to  relieve  any  person  or  persons,  co-partnership,  unin- 
corporated association,  joint-stock  association,  company,  limited 
partnership,  bank  or  other  corporation  whatsoever,  from  the  pay- 
ment of  any  tax,  taxes  or  penalty  due  or  owing  to  the  Commonwealth 
under  any  law  in  force  at  the  time  of  the  passage  of  this  act,  but  the 
same  shall  be  collected  under  and  by  virtue  of  the  law^s  by  which  they 
were  imposed,  which  laws  shall  be  taken  for  said  purpose  to  be  in 
full  force  and  effect. 

REPEALING  SECTION: 

Section  30.  That  from  and  after  the  passage  of  this  act,  sections 
two,  three,  four  and  seven  of  the  act,  entitled  "An  act  to  provide 
revenue  by  taxation,"  approved  the  seventh  day  of  June,  Anno 
Domini  one  thousand  eight  hundred  and  seventy-nine,  and  sections 
one,  three,  five  and  twenty  of  the  act,  entitled  "A  further  supple- 
ment to  an  act  entitled  ^An  act  to  provide  revenue  by  taxation,'  ap- 
proved the  seventh  of  June,  one  thousand  eight  hundred  and  seventy- 
nine,"  approved  June  thirtieth,  one  thousand  eight  hundred  and 
eighty-five,  and  section  one  of  an  act,  entitled  "An  act  requiring 
boom  companies  to  make  report  to  the  Auditor  General  of  the  num- 
ber of  logs  annually  rafted  by  them,  and  to  pay  taxes,"  approved 
April  six,  one  thousand  eight  hundred  and  seventy,  and  all  other  sec- 
tions and  parts  of  the  said  acts  which  are  inconsistent  herewith,  or 
which  are  hereby  substantially  re-enacted,  and  all  other  acts  or  parts 
of  acts  inconsistent  herewith  or  which  are  hereby  substantially  re- 
enacted,  be  and  the  same  are  hereby  repealed,  saving,  reserving 
and  excepting  unto  the  Commonwealth  the  right  to  collect  any  tax, 
taxes,  interest,  penalty  or  penalties  due  or  owing,  or  accrued  under 
the  said  sections,  laws  or  parts  of  law,  or  any  of  them,  prior  to  the 
date  of  the  approval  of  this  act. 

Approved— The  1st  day  of  June,  A.  D.  1880. 


ACT  OF  1891. 

[June  8,  1891,  P.  L.  229.] 


An  act  to  provide  increased  revenues  for  the  purpose  of  relieving  the  burdens 
of  local  taxation,  being-  supplementary  to  an  act,  entitled  "An  act  to  provide 
revenue  by  taxation,"  approved  the  seventh  day  of  June,  Anno  Domini  one 
thousand  eight  hundred  and  seventy-nine,  amending  the  first,  fourteenth, 
sixteenth,  twentieth,  twenty-first,  twenty-fifth  and  twenty-sixth  sections  of  an 
act  supplementary  thereto,  which  became  a  law  on  the  first  day  of  June,  Anno 
Domini  one  thousand  eight  hundred  and  eighty-nine,  entitled  "A  further  sup- 
plement to  an  act,  entitled  'An  act  to  provide  revenue  by  taxation,'  approved 
the  seventh  day  of  June,  Anno  Domini  one  thousand  eight  hundred  and  sev- 
enty-nine," and  providing  for  greater  uniformity  of  taxation  by  taxing  all 
the  property  of  corporations,  limited  partnerships  and  joint-stock  associations 
having  capital  stock,  at  the  rate  of  five  mills  on  each  dollar  of  its  actual 
value. 

PREAMBLE : 

Whereas,  There  is  a  wide-spread  demand  for  the  enactmeiit  of 
such  measures  as  will  bring  about  the  equalization  of  taxation  and 
the  relief  of  local  taxation  upon  real  estate; 

And  whereas,  Moneyed  capital,  taxable  under  the  first  section  of 
the  act,  entitled  ^'A  further  supplement  to  an  act,  entitled  'An  act  to 
provide  revenue  by  taxation,'  approved  the  seventh  day  of  June, 
Anno  Domini  one  thousand  eight  hundred  and  seventy-nine,"  ap- 
proved the  first  day  of  June,  Anno  Domini  one  thousand  eight  hun- 
dred and  eighty-nine,  does  not  bear  its  just  proportion  of  the 
burdens  of  local  taxation: 

And  whereas.  It  is  desirable  to  largely  increase  the  State  ap- 
propriation for  the  support  of  the  public  schools,  out  of  an  increased 
taxation  upon  the  capital  stock  of  certain  corporations  imposed  by 
the  twentieth  and  twenty-first  sections  of  said  act; 

And  whereas.  Experience  has  shown  that  the  said  twentieth  and 
twenty-first  sections  result,  in  many  cases,  in  requiring  corporations 
which  pay  dividends  less  than  six  per  centum  to  pay  a  larger  amount 
of  tax  than  corporations  paying  dividends  of  six  per  centum  are  re- 
quired to*  pay; 

And  whereas  also,  It  has  shown  that  the  mode  prescribed  in  the 
twenty-first  section  of  said  act  for  taxing  corporations  paying  divi- 
dends of  six  per  centum  and  upwards  at  a  rate  of  tax  to  be  measured 
by  the  dividends  results,  in  many  cases,  in  corporations  with  large 
investments  in  bonds,  mortgages  and  moneys  at  interest,  paying  a 
less  rate  of  tax  than  other  corporations  without  capital  stock,  and 
individual  citizens  are  required  to  pay,  under  the  first  section  of  said 
act,  upon  the  same  kind  of  property; 


17 


And  \Yliereas  also,  It  appears  that  tlie  taxes  imposed  upon  corpora- 
tions and  individual  citizens  by  the  first  and  twenty-first  sections  of 
said  act  can  be  made  much  more  nearly  uniform  by  taxing  all  corpo- 
rations, limited  partnerships  and  joint-stock  associations  having 
capital  stock,  at  a  fixed  rate  of  five  mills  upon  each  dollar  of  the 
actual  value  of  their  whole  capital  stock,  including  as  well  their 
bonds,  mortgages  and  moneys  at  interest,  as  their  franchises  and 
property  of  other  kinds;  therefore, 

PERSONAL  PROPERTY-TAX  ON. 

Section  1.  Be  it  enacted  by  the  Senate  and  House  of  Representa- 
tives of  the  Commonwealth  of  Pennsylvania  in  General  Assembly 
met,  and  it  is  hereby  enacted  by  authority  of  the  same,  That  from 
and  after  the  passage  of  this  act,  all  personal  property  of  the  classes 
hereinafter  enumerated,  owned,  held  or  possessed  by  any  person, 
persons,  co-partnersihip  or  unincorporated  association  or  company, 
resident,  located  or  liable  to  taxation  within  this  Commonwealth,  or 
by  any  joint-stock  company  or  association,  limited  partnership  bank 
or  corporation  whatsoever,  formed,  erected  or  incorporated  by,  under 
or  in  pursuance  of,  any  law  of  this  Commonwealth  or  of  the  United 
States,  or  of  any  other  state  or  government,  and  liable  to  taxation 
within  this  Commonwealth,  whether  such  personal  property  be 
owned,  held  or  possessed  by  such  person  or  persons,  co-partnership, 
unincorporated  association,  company,  joint-stock  company  or  asso- 
ciation, limited  partnership,  bank  or  corporation,  in  his,  her,  their 
or  its  own  right,  or  as  active  trustee,  agent  attorney-in-fact  or  in  any 
other  capacity  for  the  use,  benefit  or  advantage  of  any  other  person, 
persons,  co-partnership,  unincorporated  association,  company,  joint- 
stock  company,  or  association,  limited  partnership,  bank  or  corpora- 
tion, is  hereby  made  taxable  annually  for  State  purposes  at  the  rate 
of  four  mills  on  each  dollar  of  the  value  thereof,  and  no  failure  to 
assess  or  return  the  same  shall  discharge  such  owner  or  holder 
thereof  from  liability  therefor  to  the  Commonwealth,  that  is  to  say: 

All  mortgages,  all  moneys  owing  by  solvent  debtors,  whether  by 
promissory  note  or  penal  or  single  bill,  bond  or  judgment,  all  articles 
of  agreement  and  accounts  bearing  interest;  all  public  loans  whatso- 
ever, except  those  issued  by  this  Commonwealth  or  the  United 
States;  all  loans  issued  by  or  shares  of  stock  in  any  bank,  corpora- 
tion, association,  company  or  limited  partnership,  created  or  formed 
under  the  laws  of  this  Commonwealth  or  of  the  United  States  or  of 
any  other  state  or  government,  including  car  trust  securities  and 
loans  secured  by  bonds  or  any  other  form  of  certificate  or  evidence 
of  indebtedness,  whether  the  interest  be  included  in  the  principal  of 
the  obligation  or  payable  by  the  terms  thereof, except  shares  of  stock 

2 


IS 


in  auy  corporation  or  limited  partnership  liable  to  the  capital  stock 
tax  imposed  by  the  twenty-first  section  of  this  act,  or  relieved  from 
the  payment  of  tax  on  capital  stock  by  said  section;  all  moneys 
loaned  or  invested  in  other  states,  territories,  the  District  of  Co- 
lumbia or  foreign  countries;  all  other  money  capital  in  the  hands  of 
individual  citizens  of  the  State:  Provided,  That  this  section  shall  not 
apply  to  bank  notes,  or  notes,  discounted  or  negotiated  by  any  bank 
or  banking  institutions,  savings  institution  or  trust  company:  And 
provided,  That  the  provisions  of  this  act  shall  not  apply  to  build- 
ing and  loan  associations:  Provided  also,  That  this  section  shall  take 
effect  on  the  first  day  of  January,  Anno  Domini,  one  thousand  eight 
hundred  and  ninety-two. 

TAX  ON  OMNIBUSES,  STAGES,  ETC.: 

Section  2.  That  the  county  commissioners  or  board  of  revision  of 
taxes  of  each  and  every  county  in  this  Commonwealth  are  hereby  au- 
thorized and  required,  annually,  hereafter,  at  the  usual  period  of  mak- 
ing county  rates  and  levies,  to  assess  or  cause  to  be  assessed,  for  the 
use  of  the  Commonwealth,  upon  all  stages,  omnibuses,  hacks,  cabs 
and  other  vehicles  used  for  transporting  passengers  for  hire,  except 
steam  and  street  passenger  railway  cars  owned,  used  or  possessed 
within  this  Commonwealth  by  any  person  or  persons  or  by  any  cor- 
porate body  or  bodies,  and  upon  all  annuities  yielding  annually  over 
two  hundred  dollars,  a  tax  of  four  mills  upon  each  and  every  dollar 
of  the  value  thereof:  Provided  also.  That  this  section  shall  take  effect 
on  the  first  day  of  January,  Anno  Domini  one  thousand  eight  hun- 
dred and  ninety-two. 

RETURN  OF  PORTION  OF  PERSONAL  PROPERTY  TAX  TO  COUNTIES: 

Section  3.  That  for  the  year  one  thousand  eight  hundred  and 
ninety-two,  and  annually  thereafter,  three-fourths  of  the  net  amount 
of  tax  based  on  the  return  of  property  subject  to  taxation  for  state 
purposes  required  to  be  made  to  and  reported  by  the  State  board  of 
revenue  commissioners,  annually,  by  county  commissioners  and  the 
board  of  revision  of  taxes  in  cities  co-extensive  with  counties,  that  is 
collected  and  paid  into  the  State  treasury  by  a  county,  or  city  co-ex- 
tensive with  a  county  shall  be  returned  by  the  State  Treasurer  to  such 
county  or  city  co-extensive  with  a  county  for  its  own  use  in  pay- 
ment of  the  expenses  incurred  by  it  in  the  assessment  and  collection 
of  the  said  tax:  Provided,  That  in  consideration  of  the  return  to 
counties,  and  cities  co-extensive  with  counties,  of  the  tax  as  afore- 
said, no  claim  shall  be  made  upon  or  allowed  by  the  Commonwealth 
for  abatements,  tax  collectors'  commissions,  extraordinary  expenses, 
uncollectible  taxes  or  for  keeping  a  record  of  judgments  and  mort- 
gages. 


19 


TAX  ON  CAPITAL  STOCK-REPORTS  FOR. 

Section  4.  That  hereafter,  except  iu  the  case  of  banks,  savings  in- 
stitutions and  foreign  insurance  companies,  it  shall  be  the  duty  of  the 
president,  chairman  or  treasurer  of  every  corporation  having  ca;pital 
stock,  every  joint-stock  association  and  limited  partnership  whatso- 
ever, now  or  hereafter  organized  or  incorporated  by  or  under  any 
law  of  this  Commonwealth,  and  of  every  corporation,  joint-stock 
association  and  limited  partnership  whatsoever  now  or  hereafter  in- 
corporated or  organized  by  or  under  the  laws  of  any  other  state  or 
territory  of  the  United  States,  or  by  the  United  States,  or  by  any 
foreign  government  and  doing  business  in  and  liable  to  taxation 
within  this  Conmionwealtli,  or  having  capital  or  property  employed 
or  used  in  this  Commonwealth,  by  or  in  the  name  of  any  limited 
partnership,  joint-stock  association,  company  or  corporation  what- 
soever, association  or  associations,  co-partnership  or  co-partnerships, 
person  oV  persons,  or  in  any  other  manner  to  make  a  report  in  writ- 
ing to  the  Auditor  General  in  the  month  of  November,  one  thousand 
eight  hundred  and  ninety-two,  and  annually  thereafter,  stating 
specifically. 

First.  Total  authorized  capital  stock. 

Second.  Total  authorized  number  of  shares. 

Third.  Number  of  shares  of  stock  issued. 

Fourth.  Par  value  of  each  share. 

Fifth.  Amount  paid  into  the  treasury  on  each  share. 

Sixth.  Amount  of  capital  paid  in. 

Seventh.  Amount  of  capital  on  which  dividend  was  declared. 

Eighth.  Date  of  each  dividend  declared  during  said  year  ended 
with  the  first  Monday  of  November. 

Ninth.  Rate  per  centum  of  each  dividend  declared. 

Tenth.  Amount  of  each  dividend  during  the  year  ended  with  the 
first  Monday  in  said  month. 

Eleventh.  Gross  earnings  during  the  year. 

Twelfth.  Net  earnings  during  said  year. 

Thirteenth.  Amount  of  surplus. 

Fourteenth.  Amount  of  profit  added  to  sinking  fund  during  said 
year. 

Fifteenth.  Highest  price  of  sales  of  stock  between  the  first  and 
fifteenth  days  of  November  aforesaid. 

Sixteenth.  Highest  price  of  sales  of  stock  during  the  year  afore- 
said. 

Seventeenth.  Average  price  of  sales  of  stock  during  the  year;  and 
in  every  case  any  two  of  the  following  named  officers  of  such  corpo- 
ration, limited  partnership  or  joint-stock  association,  namely:  The 
president,  chairman,  secretary  and  treasurer,  after  being  duly  sworn 
or  affirmed  to  do  and  perform  the  same  with  fidelity  and  according 


20 


to  the  best  of  llieir  knowledge  and  belief,  shall,  between  the  first 
and  fifteenth  days  of  November  of  each  year,  estimate  and  appraise 
the  capital  stock  of  the  said  company  at  its  actual  value  in  cash,  not 
less  however  than  the  average  price  which  said  stock  sold  for  dui  ing 
said  year,  and  not  less  than  the  price  or  value  indicated  or  measured 
by  net  earnings  or  by  the  amount  of  profit  made  and  either  declared 
in  dividends  or  carried  into  surplus  or  sinking  fund,  and  when  the 
same  shall  have  been  so  truly  estimated  and  appraised  they  shall 
forthwith  forward  to  the  Auditor  General  a  certificate  thereof  ac- 
com|)anied  with  a  copy  of  their  said  oath  or  affirmation,  signed  by 
them  and  attested  by  a  magistrate  or  other  persons  duly  qualified  to 
administer  the  same:  Provided,  That  if  the  Auditor  General  and 
State  Treasurer,  or  either  of  them,  is  not  satisfied  with  the  appraise- 
ment and  valuation  so  made  and  returned,  they  are  hereby  authorized 
and  empowered  to  make  a  valuation  thereof  based  upon  the  facts 
contained  in  the  report  herein  required,  or  upon  any  information 
within  tlieir  possession  or  that  shall  come  into  their  possession,  and 
to  settle  an  account  on  the  valuation  so^  made  b}^  them  for  the  taxes, 
penalties  and  interest 'due  the  Commonwealth  thereon  with  a  right 
to  the  company  dissatisfied  with  any  settlement  so  made  against  it 
to  appeal  therefrom  in  the  manner  now  pro^dded  by  law;  and  in  the 
event  of  tbe  neglect  or  refusal  of  the  officers  of  any  corporation,  com- 
pany, joint-stock  association  or  limited  partnership,  for  a  period 
of  sixty  days,  to  make  the  report  and  appraisement  to  the  Auditor 
General  as  herein  provided,  it  shall  be  the  duty  of  the  Auditor  Gen- 
eral and  State  Treasurer  to  estimate  a  valuation  of  the  capital  stock 
of  such  defaulting  corporation,  company,  joint-stock  association  or 
limited  partnership,  and  settle  an  account  for  taxes,  penalty  and  in- 
terest thereon,  from  which  settlement  there  shall  be  no  right  of  ap- 
peal. 

[Note. — Se(\  5  is  supplied  by  sec.  1  of  the  act  of  June  8,  1893.] 

-X-        *        *        «        -X-         *        *        *         -X-        *        *        *        *        *         *        *        *         *        *        *  * 

TAX  ON  BANK  STOCK  : 

Section  6.  In  case  any  bank  or  savings  institution  incorporated  by 
this  State  or  the  United  States  shall  elect  to  collect  annually  from  the 
shareholders  thereof  a  tax  of  eight  mills  on  the  dollar  upon  the  par 
value  of  all  shares  of  said  bank  or  savings  institution  that  have  been 
subscribed  for  or  issued,  and  pay  the  same  into  the  State  treasury  on 
or  before  the  first  day  of  March  in  each  year,  the  shares  and  so  much 
of  the  capital  and  profits  of  such  bank  as  shall  not  be  invested  in  real 
estate  shall  be  exempt  from  local  taxation  under  the  laws  of  this 
Commonwealth.  It  shall  be  the  duty  of  the  president  or  cashier  of 
every  bank  or  savings  institution  incorporated  by  or  under  the  laws 
of  this  Commonwealth  failing  to  pay  in  the  eight  mill  tax  as  afore- 


21 


said  to  make  report  iu  writing  to  the  Auditor  General,  on  or  before 
the  twentieth  day  of  June  of  each  year,  stating  specifically  the 
amount  of  capital  stock  and  the  amount  paid  in,  a  full  and  complete 
list  of  the  shareholders  of  such  bank  or  savings  institution  with  their 
residences,  and  number,  and  par  value  of  shares  of  stock  held  by 
each  person  respectively,  and  the  value  of  said  stock  in  the  market 
where  such  bank  or  savings  institution  is  located  during  the  year 
ending  with  the  twentieth  day  of  June,  which  said  report  shall  be 
verified  by  the  oath  of  the  president  or  cashier,  taken  before  some 
ofiicer  authorized  to  administer  oaths;  and  the  said  president  or 
cashier  shall  also  furnish  a  duplicate  original  of  said  report  to  the 
commissioners  or  board  of  revision  of  the  proper  city  or  county  in 
which  such  bank  or  savings  institution  is  located,  to  be  used  by  them 
for  the  purpose  of  assessing  all  taxes  against  said  shareholders.  The 
Auditor  General  shall  have  power  to  inquire  into  the  value  of  such 
stock  and  either  abate  or  increase  the  assessment  as  may  be  just;  if 
the  said  bank  officers  shall  neglect  or  refuse  to  furnish  the  reports 
aforesaid  as  above  required,  it  shall  be  the  duty  of  the  Auditor  Gen- 
eral to  require  the  said  officers  to  appear  before  him  in  person,  with 
the  books  and  accounts  of  the  said  bank  or  savings  institution,  for 
interrogation  and  examination,  and  the  Auditor  General  shall  have 
power  to  issue  subpoenas  and  attachments  to  be  served  by  any  con- 
stable or  sheriff,  and  to  compel  the  attendance  of  such  officers  and 
the  production  of  such  books  and  papers  as  he  may  deem  necessary 
to  make  a  correct  list  of  the  shareholders  with  their  residences  and 
the  number  and  value  of  their  shares;  and  the  said  Auditor  General 
shall  settle  an  account  in  the  usual  mode  against  the  individual 
shareholders  for  the  State  tax  of  four  mills  and  proceed  to  collect  the 
same  according  to  law,  and  he  shall  also  transmit  the  list  and  assess- 
ments made  by  him  to  the  commissioners  or  board  of  revision  of  the 
proper  cities  and  counties  to  be  used  by  them  in  assessing  taxes 
against  the  shareholders;  and  any  president  or  cashier  of  any  bank 
or  savings  institution  neglecting  or  refusing  to  furnish  the  said  re- 
port, or  to  do  and  perform  any  of  the  matters  and  things  required  of 
him  by  this  act,  shall  be  liable  to  a  penalty  of  one  thousand  dollars; 
and  any  bank  or  savings  institutions  refusing  to  permit  the  said 
president  or  cashier  to  make  the  said  reports,  or  to  produce  its  books 
as  above  required,  shall  be  liable  to  a  like  penalty  of  one  thousand 
dollars;  and  t\vi  Auditor  General  may  settle  an  account  against  the 
president  and  cashier  so  neglecting  or  refusing  to  make  report  as 
aforesaid  or  against  the  bank  or  savings  institution  refusing  to  per- 
mit the  making  of  said  report  or  the  production  of  its  booths  and 
papers  as  afou-said,  and  proceed  for  the  collection  of  said  penalites 
for  the  use  of  the  Commonwealth,  in  the  same  manner  as  taxes  are 
now  recoverable  by  law. 


22 


TAX  ON  BANK  STOCK -NATIONAL  : 

Section  7.  That  from  and  after  the  passage  of  tbis  act,  every  na- 
tional bank  located  within  tliis  Commonwealth  which  shall  fail  to 
elect  to  collect  annually  from  the  shareholders  thereof  a  tax  of  eight 
mills  on  the  dollar  upon  the  par  value  of  all  the  shares  of  said  bank 
that  have  been  subscribed  or  issued,  shall,  on  or  before  the  twentieth 
day  of  June  in  each  and  every  year,  make  to  the  Auditor  General  a 
report  in  writing,  verified  by  the  oath  or  affirmation  of  the  president 
or  cashier,  setting  forth  the  full  number  of  shares  of  the  capital 
stock  issued  by  such  national  bank,  and  the  actual  value  thereof, 
whereupon  it  shall  be  the  duty  of  the  Auditor  General  to  assess  the 
same  for  taxation  at  the  same  rate  as  that  imposed  upon  other 
moneyed  capital  in  the  hands  of  individual  citizens  of  this  State, 
that  is  to  say  at  the  rate  of  four  mills  upon  each  dollar  of 
the  actua^  value  thereof,  and  for  that  purpose  he  shall  have  the 
power,  and  it  shall  be  his  duty,  in  case  he  shall  not  be  satisfied  with 
the  correctness  of  the  report,  to  summon  the  officers  of  said  national 
bank  to  appear  before  him  upon  notice  so  to  do,  on  a  day  to  be  fixed 
by  liim,  and  to  bring  with  them  all  the  books  of  the  said  national 
bank,  showing  its  business,  assets  and  dividends,  for  his  examina- 
tion, and  it  shall  be  his  further  duty  to  hear  any  stockholder  who 
may  desire  to  be  heard  on  the  question  of  the  valuation  of  the  shares 
as  aforesaid;  and  he  shall  have  the  rig-bt,  by  other  evidence,  to  satisfy 
himself  as  to  the  correctness  of  the  valuation  of  said  shares  of  stock 
in  said  report  contained,  and  to  correct  said  valuation.  The  Auditor 
General  shall  thereupon  transmit  to  the  said  national  bank  a  state- 
ment of  the  valuation  and  assessment  so  made  by  him,  and  the 
amount  of  tax  due  the  Commonwealth,  on  all  of  said  shares,  which 
tax  the  said  bank  shall,  within  thirty  days  after  receiving  said  state- 
ment, collect  from  their  shareholders  and  pay  over  into  the  State 
treasury:  Provided,  That  if  any  national  bank  shall  fail  or  refuse  to 
mak(i  said  report  or  to  pay  said  tax  at  the  said  times  herein  specified 
or  shall  make  any  false  statement  in  said  report,  or  shall  fail  or  re- 
fuse by  its  officers  to  appear  before  the  Auditor  General  upon  notice 
as  aforesaid,  or  shall  fail  or  refuse  to  produce  its  books  for  examina- 
tion when  required  to  do  so  by  the  Auditor  General,  after  having 
ascertained  the  actual  value  of  each  share  of  the  capital  stock  of  said 
national  bank,  from  the  best  information  which  he  can  obtain,  shall 
add  thereto  fifty  per  centum,  assess  the  tax  as  aforesaid,  and  pro- 
ceed according  to  law  to  collect  the  same  from  said  bank. 

REPEALING  SECTION  : 

Section  8.  That  all  acts  or  parts  of  acts  inconsistent  iherewith  or 
that  are  supplied  by  this  act,  be  and  the  same  are  hereby  repealed, 
saving*,  reserving  and  excepting  unto  the  Commonwealth  the  right 


23 


to  collect  any  tax,  taxes,  interest,  penalty  or  penalties  due  or  owing 
or  accrued  under  the  said  laws  or  parts  of  laws  prior  to  the  dates 
when  Ihe  several  sections  of  this  act  go  into  effect. 
Approved— The  8th  day  of  June,  A.  D.  1891. 


ACT  OF  1893. 

[June  8,  1893,  P.  L.  353.] 


AN  ACT 

Being  a  further  supplement  to  an  act,  entitled  "An  act  to  provide  revenue  by 
taxation,"  approved  the  seventh  day  of  June,  Anno  Domini  one  thousand 
eight  hundred  and  seventy-nine,  amending  the  amendment  of  the  supplement 
thereto,  which  became  a  law  on  the  first  day  of  June,  Anno  Domini  one  thou- 
sand eight  hundred  and  eighty-nine,  which  amendment  herein  amended  was 
approved  the  eighth  day  of  June,  Anno  Domini  one  thousand  eight  hundred 
and  ninety-three,  relating  to  the  tax  on  capital  stock. 

Section  1.  Be  it  enacted  by  the  Senate  and  House  of  Representa- 
tives of  the  Commonwealth  of  Pennsylvania  in  General  Assembly 
met,  and  it  is  hereby  enacted  by  the  authority  of  the  same.  That  the 
twenty-first  section  of  an  act  which  became  a  law  on  the  first  day  of 
June,  Anno  Domini  one  thousand  eight  hundred  and  eighty-nine  en- 
titled "A  further  supplement  to  an  act,  entitled  'An  act  to  provide 
revenue  by  taxation,'  approved  the  seventh  day  of  June,  Anno  Domini 
one  thousand  eight  hundred  and  seventy-nine,  as  the  said  section  is 
amended  by  an  act  approved  the  eighth  day  of  June,  Anno  Domini 
one  thousand  eight  hundred  and  ninety-one,"  be  and  the  same  is 
hereby  amended  so  as  read  as  follows: 

TAX  ON  CAPITAL  STOCK: 

Section  21.  That  every  corporation,  joint-stock  association,  limited 
partnership  and  company  whatsoever  from  which  a  report  is  required 
under  the  twentieth  section  hereof,  shall  be  subject  to  and  pay  into 
the  treasury  of  the  Commonwealth  annually  a  tax  at  the  rate  of  five 
mills  upon  each  dollar  of  the  actual  value  of  its  whole  capital  stock 
of  all  kinds,  including  common,  special  and  preferred,  as  ascertained 
in  the  manoer  prescribed  in  said  twentieth  section,  and  it  shall  be 
the  duty  of  the  treasurer  or  other  officers  having  charge  of  any  such 
corporation,  joint-stock  association  or:  limited  partnership  upon 
which  a  tax  is  imposed  by  this  section  to  transmit  the  amount  of 
said  tax  to  the  treasury  of  the  Commonwealth  within  thirty  days 
from  the  date  of  settlement  of  the  account  by  the  Auditor  General 
and  State  Treasurer:  Provided,  That  for  the  purposes  of  this  act  in- 


24 


terests  in  limited  partnerships  or  joint-stock  associations  shall  bo 
deemed  to  be  capital  stock  and  taxable  accordingly:  Provided  also, 
That  corporations,  limited  partnerships  and  joint-stock  associations 
liable  to  tax  on  capital  stock  under  this  section  shall  not  be  required 
to  make  any  report  or  pay  any  further  tax  on  the  mortgages,  bonds 
and  other  securities  owned  by  them  in  their,  own  right  but  corpora- 
tions, limited  partnerships  and  joint-stock  associations  holding  such 
securities  as  trustees,  executors,  administrators,  guardians  or  in  any 
other  manner  shall  return  and  pay  the  tax  imposed  by  this  act  upon 
all  securities  so  held  by  them  as  in  the  case  of  individuals:  And  pro- 
vided further.  That  the  provisions  of  this  section  shall  not  apply  to 
the  taxation  of  so  much  of  the  capital  stock  of  corporations,  limited 
partnerships  or  joint-stock  associations  organized  for  manufactur- 
ing purposes,  which,  is  invested  in  and  actually  and  exclusively  em- 
ployed in  carrying  on  manufacturing  within  the  State,  except  com- 
panies engaged  in  the  brewing  or  distilling  of  spirits  or  malt  liquors 
and  such  as  enjoy  and  exercise  the  right  of  eminent  domain,  but 
every  manufacturing  corporation,  limited  partnership  or  joint-stock 
association  shall  pay  the  State  tax  of  five  mills  herein  provided 
upon  such  proportion  of  its  capital  stock,  if  any,  as  may  be  invested 
in  any  property  or  business  not  strictly  incident  or  appurtenant  to 
its  manufacturing  business  in  addition  to  the  local  taxes  assessed 
upon  its  property  in  the  districts  where  located,  it  being  the  object 
of  this  proviso  to  relieve  from  State  taxation  only  so  much  of  the 
capital  stock  as  is  invested  purely  in  the  manufacturing  plant  and 
business:  Provided  further.  In  case  of  fire  or  marine  insurance  com- 
panies, the  tax  imposed  by  this  section  shall  be  at  the  rate  of  three 
mills  on  each  dollar  of  the  actual  value  of  the  whole  capital  stock. 
Approved— The  8th  day  of  June,  A.  D.  1893. 


ACT  OF  1895. 

[June  27,  1895,  P.  L.,  p.  393.] 


AN  ACT 

To  amend  the  first,  second  and  third  sections  of  an  act,  entitled  "An  act  relating  to 
brokers  and  private  bankers,"  approved  the  sixteenth  day  of  May,  A.  D.  1-61,  re- 
lieving real  estate  agents  from  the  provisions  of  the  act. 

TAX  ON  NET'EARNINGS  OF  BROKERS: 

Section  1.  That  every  stock  broker,  bill  broker,  exchange  broker 
and  privato  banker  in  this  Commonwealth  shall,  on  or  before  the 
first  Monday  of  December  next,  and  on  or  before  the  same  day  in 
each  year  thereafter,  make  a  written  return,  under  oath  or  affirma- 


25 


tion,  lo  the  Auditor  General  of  this  Commonwealth,  in  which  return 
he  shall  exhibit  and  set  forth  the  full  amount  of  his  receipts  from 
commissions,  discounts,  abatements,  allowances  and  all  other  profits 
arising  from  his  business  during  the  year  ending  with  the  thirtieth 
day  of  Novembe?  preceding  the  date  of  such  annual  return,  and  shall 
forthwith  pay  into  the  State  treasury  three  per  centum  upon  the  ag- 
gregate amount  contained  in  such  return  for  the  use  of  the  Common- 
wealth :  all  revenues  derived  from  this  source  are  hereby  appro- 
priated to  the  sinking  fund  to  be  applied  under  the  direction  of  the 
commissioners  thereof  to  the  payment  of  the  interest  knd  reduction 
of  the  principal  of  the  public  debt,  in  like  manner  as  other  revenues 
appropriated  to  that  fund  are  now  applied. 

REGISTRATION  OF  BROKERS: 

Section  2.  That  eveiy  stock  broker,  bill  broker,  exchange  broker 
and  private  banker  in  this  Commonwealth,  whether  the  business  be 
conducted  by  an  individual  or  more  than  one  person  in  partnership 
shall,  within  three  months  after  the  passage  of  this  act,  and  all 
others  who  shall  hereafter  engage  in  such  business  in  this  Common- 
wealth, within  sixty  days  after  they  commence  the  same,  make  a  re- 
port to  the  Auditor  Ger<eral,  in  writing  and  under  oath  or  affirmation, 
setting  forth  the  name  of  the  person  so  employed,  if  an  individual, 
or  if  a  partrc  rship.  the  names  of  all  the  individuals  composing  the 
same,  and  the  name  of  the  firm,  the  location  or  place  where  such 
business  is  transacted,  and  the  amount  of  capital  invested  therein, 
if  any. 

PENALTY  FOR  NOT  REPORTING  OR  REGISTERING  : 

Section  3.  That  any  such  stock  broker,  bill  broker,  exchange 
broker  or  private  banker  in  this  Commonwealth  who  shall  neglect  or 
refuse  to  make  the  return  and  report  required  by  the  first  and  second 
sections  of  this  act  shall,  for  every  such  neglect  or  refusal  be  sub- 
ject to  a  penalty  of  one  thousand  dollars,  which  penalty  shall  be  col- 
lected on  an  account  settled  by  the  accountant  officers  as  taxes  on 
bank  dividends  are  now  settled  and  collected,  and  shall  not  be  re- 
lieved from  paying  the  amount  which  he  is  liable  to  pay  to  the  Com- 
monwealth undei  the  provisions  of  the  first  section  of  this  act  on  ac- 
count of  hishavingbeeui  <'quire("!  and  compelled  to  pay  the  said  penalty. 

Approved— The  27tlL  day  of  June,  A.  D.  1895. 


4^  ^ 


